<<Since there is no big Apple news earnings, I think that the stock price will go upto 42, and then slowly start falling back to the 37-39 range. It will start picking up by Sept 14-15th as money managers start buying in anticipation of the earnings which'll be out in Mid Oct. Something similar happened last quarter. However this quarter is different and has more strength, so it there won't go down much.
I have done well by sticking with Apple for the last one year. I hope to take some profits during the coming week.>>
Well, we had about four weeks rally from June 22 to Middle of July,
then a minor correction occurred primarily due to overall market
weakness. Then there is another week's rally up to last Friday. I
would think we may have another week of upside, for iMac sales have
been extremely well. Last week, AAPL went up nearly 10%. I bet
another 10% of upside is likely if the figure of iMac sales can
convince investors/speculators to get into the game.
From AAPL's PE aspect, it's still under 20 if using '99 consensus
expectation value. The net from iMac definitely will improve
its outlook on PE value, where this quarter and Q1, '99 will see
unexpected lower PE's. Based on this fundamental data as well as its
probability of increasing revenue in these two quarters, I think it's
pretty safe to stay in the game.
Phil |
